Home › Guides › Tax › Tax rates and allowances › VAT rates

VAT rates

From
1 April
2011		 From
4 January
2011		 From
1 April
2010
Standard rate  20%  20% 17.5%
Standard rate VAT fraction  1/6  1/6 7/47
Reduced rate  5%  5% 5%
Reduced rate VAT fraction  1/21  1/21 1/21
Taxable turnover limits
Registration - last 12 months or next 30 days over  £73,000  £70,000 £70,000
Deregistration - next 12 months under  £71,000  £68,000 £68,000
Cash accounting scheme - up to  £1,350,000  £1,350,000 £1,350,000

Optional flat rate scheme - joining up to

- exiting over

£150,000

£230,000

£150,000

£230,000

£150,000

£225,000
Annual accounting scheme - up to  £1,350,000  £1,350,000 £1,350,000

Did you know?

That the Government expect to receive £100.3bn from VAT in 2011/12 (2010/11 £86.1bn)

Cars and your VAT return

VAT scale figures for private use are now based on carbon emissions. Please refer here for the scale figures for one month, three month, and annual VAT returns.